Pragmatic Capitalism

Capital for Living a More Practical Life


I have to admit that the current rally is surpassing anything I would have ever expected at the beginning of the year.  We’re in that “can’t lose” market environment where every little dip is bought, every data point is positive and stock literally don’t go down.  And when one digs a little deeper into the story behind this rally you can see just how amazing it’s been.  Here are the year-to-date stats (that’s 2.5 months for those keeping track):

Germany’s DAX: +20%, 96% annualized

S&P 500: +11%, 52% annualized

S&P 500: up 67% of all sessions, just one -1% day in 51 trading sessions.

Nasdaq 100:  +19%, 91% annualized, up 73% of all sessions.

Homebuilders Index: +23%, 110% annualized

S&P Financials: +21%, 100% annualized

Apple, the world’s largest company: +45%, 216% annualized

Minsky once said that stability creates instability.  But there are no signs of instability here….

Cullen Roche

Cullen Roche

Mr. Roche is the Founder of Orcam Financial Group, LLC.Orcam is a financial services firm offering asset management, private advisory, institutional consulting and educational services.He is also the author of Pragmatic Capitalism: What Every Investor Needs to Understand About Money and Finance and Understanding the Modern Monetary System.
Cullen Roche

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